daytrade diaries... february 11, page-24

the VIL announcement certainly highlights the risks involved in holding spec companies overnight, the announcement wasn't really that bad, but certainly not good enough to keep up the lofty market cap over the short term.

as a lot of the traders here on the thread were warning their was a lot of hype priced into the VIL shareprice, and once it had that last high volume spike to 9.5c that the risk/reward was not favourable, and there were strong indications traders were begining to move onto the next mover.

I will be first to admit that I quite often sell out of these spec runners way too early, but I would prefer to miss out on that final surge than risk the profits already made.

today's implications of the VIL announcement are likely to affect trading in SSN, some traders might book profits early to cover losses on VIL, so it will be interesting to see if SSN can have a strong bounce today.